Entegris Reports Sales of $148 Million and EPS of $0.04 for Second Quarter of Fiscal 2008

Entegris Reports Sales of $148 Million and EPS of $0.04 for Second Quarter of Fiscal 2008

CHASKA, Minn., Jul 29, 2008 (PrimeNewswire via COMTEX News Network) -- Entegris, Inc. (Nasdaq:ENTG) today reported its financial results for the fiscal second quarter ended June 28, 2008. Second-quarter sales were $147.9 million, versus $153.5 million for the same period a year ago and $148.2 million for the first quarter of fiscal 2008.

Second-quarter net income was $4.9 million, or $0.04 per diluted share, which included amortization expense of $4.6 million, or $0.04 per diluted share. These results compared to net income of $14.8 million, or $0.11 per diluted share, for the second quarter a year ago and to restated net income of $2.9 million, or $0.02 per diluted share reported for the first quarter of 2008.

Sales for the six months ended June 28, 2008 were $296.2 million. First-half net income was $7.8 million, or $0.07 per diluted share, on a restated basis. Amortization expense for the first half of 2008 was $9.6 million, or $0.08 per diluted share.

Gideon Argov, president and chief executive officer, said: "Despite a challenging industry environment, we held second-quarter sales even with the first quarter while achieving improvements in our operating results and generating $31 million of cash from operations. Second-quarter sales to semiconductor-related customers reflected higher sales to chip makers which offset lower OEM spending on capital-driven products such as photochemical pumps and fluid handling components."

For its fiscal third quarter ending September 27, 2008, the Company currently expects sales to be $140 million to $146 million. Net income per diluted share is expected to range from $0.03 to $0.05. The Company expects third-quarter amortization expense to be $4.3 million, or $0.04 per diluted share.

First Quarter Restatement

Entegris announced that it will file a Form 10-Q/A with the Securities and Exchange Commission to restate its financial results for the first quarter of fiscal year 2008, which ended March 29, 2008. The restatement, which does not affect revenue or cash flows, is expected to result in an upward correction to gross margin of approximately $2.5 million and an upward correction to net income of $1.7 million. The Company expects to file its restated financial statements concurrent with its filing of the Form 10-Q for the second quarter of fiscal 2008 on or about August 7, 2008.

Second-Quarter Results Conference Call Details

Entegris will hold a conference call to discuss its results for the second quarter on Tuesday, July 29, 2008, at 10:00 a.m. Eastern Time. Participants should dial 1-888-219-1420 (for domestic callers) or 1-913-312-1420 (for callers outside the U.S.). A replay of the call can be accessed at 1-719-457-0820 using passcode 8327674. A webcast of the call can also be accessed from the investor relations section of Entegris' website at www.entegris.com.

About Entegris

Entegris is a leading provider of a wide range of products for purifying, protecting and transporting critical materials used in processing and manufacturing in the semiconductor and other high-tech industries. Entegris is ISO 9001 certified and has manufacturing, customer service and/or research facilities in the United States, China, France, Germany, India, Israel, Japan, Malaysia, Singapore, South Korea and Taiwan. Additional information can be found at www.entegris.com.

Forward-Looking Statements

Certain information contained in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current management expectations only as of the date of this press release, and involve substantial risks and uncertainties that could cause actual results to differ materially from the results expressed in, or implied by, these forward-looking statements. Statements that include such words as "anticipate," "believe," "estimate," "expect," "forecast," "may," "will," "should" or the negative thereof and similar expressions as they relate to Entegris or our management are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. These risks include, but are not limited to, fluctuations in the market price of Entegris' stock, Entegris' future operating results, other acquisition and investment opportunities available to Entegris, general business and market conditions and other factors. Additional information concerning these and other risk factors may be found in previous financial press releases issued by Entegris and Entegris' periodic public filings with the Securities and Exchange Commission, including discussions appearing under the headings "Risks Relating to our Business and Industry," "Manufacturing Risks," "International Risks," and "Risks Related to Securities Markets and Ownership of Our Securities" in Item 1A of our Annual Report on Form 10-K for the fiscal year ended December 31, 2007, as well as other matters and important factors disclosed previously and from time to time in the filings of Entegris with the U.S. Securities and Exchange Commission. Except as required under the federal securities laws and the rules and regulations of the Securities and Exchange Commission, we undertake no obligation to update publicly any forward-looking statements contained herein.